Vestwell to Acquire Accrue 401k
Vestwell today announced it is buying Accrue 401k, a temporary retirement plan provider for 401(k) plans that were not included in Gusto’s acquisition of Guideline.
Vestwell expects to see 30,000 retirement plans and 350,000 savers—with a focus on small and mid-market businesses—transition to its platform following the deal’s closing in early 2026. Once complete, clients will be able to reach ongoing integration with their current payroll provider, digital tools focused on retirement planning, 24/7 platform access and support, and access to Vestwell’s suite of workplace savings solutions including retirement, education, disability, emergency savings, and student loan repayment programs.
According to Vestwell, it will become the platform for Accrue 401k clients who access their retirement plans through payroll providers like Intuit QuickBooks, Rippling, Paylocity, Deel, Square, OnPay, BambooHR, and platforms powered by Check, among others.
“Payroll connectivity is the foundation for workplace savings,” said Aaron Schumm, founder and CEO of Vestwell. “Automatic integrations ensure employees can save effortlessly, and employers can offer instrumental benefits without added complexity. We appreciate the work Guideline has done to support small businesses, and we are committed to carrying that mission forward on their behalf through our nearly 200 payroll providers.”
Accrue 401k was formed as a temporary provider for non-Gusto 401(k) plans in Gusto’s acquisition of Guideline, with the intention of eventually finding a long-term buyer. Gusto, a payroll and human resources (HR) software provider, announced its acquisition of Guideline in August.
“Our priority was finding the long-term provider that made the most sense for them,” said Steven Wu, CEO of Accrue and former CFP and chief business officer of Guideline. “After a thorough review, Vestwell stood out for its modern platform, deep payroll integrations, and commitment to businesses of all sizes. Our clients can stay with their existing payroll providers and feel confident their employees’ savings plans will transition smoothly and continue without interruption.”
“We’re pleased to expand our partnership with Vestwell and provide our customers with a seamless payroll-to-savings benefits experience,” added Hunter Williams, senior director of Business Development at Rippling, a workforce management company that is also a competitor to Gusto. “Because Rippling is already integrated with Vestwell, our clients can stay focused on running their business and continue to offer the same retirement plans to their employees.”
The acquisition is subject to customary closing conditions, including regulatory approvals. J.P. Morgan Securities, LLC, and Centerview Partners acted as financial advisors to Vestwell. David Polk & Wardwell LLP served as outside counsel to Vestwell, and Silicon Legal Strategy (SLS) served as outside counsel to Accrue 401k on the transaction.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.